Abbott and AZ extend collaboration
15 Aug 2008
Abbott and AstraZeneca (AZ) have entered into an agreement under which Abbott is to market AZ's Crestor drug.
The medication is used in combination with changes to the diet for the treatment of high cholesterol.
Under the agreement, Abbott has the non-exclusive right to market the treatment alongside AZ in the US and Puerto Rico.
Nicole Mowad-Nassar, divisional vice-president of primary care at Abbott, said: "With robust clinical data to support its use in managing cholesterol, Crestor is another important therapeutic option we can now offer physicians."
Mike Tilton, vice-president of primary care at AstraZeneca, added that the collaboration is seen as "a good fit for both companies".
Last month, Abbott reported "stronger-than-expected" financial results for the year's second quarter.
The firm revealed that its worldwide sales had increased by 14.8 per cent to $7.3 billion (£3.9 billion).
